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PHOENIX — America West Airlines posted a wider loss for the fourth quarter, reflecting the continued impact of the Sept. 11 terrorist attacks on air travel, the company reported Thursday. 

The Tempe-based airline lost $60.9 million, or $1.81 per share, for the quarter ended Dec. 31. The carrier reported losses of $41.7 million, or $1.24 per share, in the same quarter a year earlier. 

The results included $29.9 million in aid from the government’s airline bailout package. 

Excluding one-time items, America West lost $89.1 million, or $2.64 per share. That was in line with Wall Street analysts’ expectations. 

Fourth-quarter revenues fell 30 percent to $400 million from $572 million a year ago. 

Still, executives at the nation’s eighth-largest carrier remain optimistic. 

Earlier this month, America West closed on a $429 million loan secured by the U.S. government, ending the threat of a possible bankruptcy filing. The airline went through Chapter 11 financial reorganization in 1994. 

“Despite the difficult times facing the airline industry, we are encouraged by our improved liquidity position, our incredible turnaround in operations and the trends in revenue performance,” said W. Douglas Parker, America West’s chairman, president and chief executive officer. 

Company officials said they cut costs by returning 11 planes from the airline’s fleet, reducing annual rent by about $50 million and cutting advertising and food expenses. 

Parker said the company is gradually recovering from the travel slump caused by the Sept. 11 attacks. 

“We believe we are in a very good position to ride out this storm and be in a better position than when we started,” he said. 

After the attacks, the airline eliminated 2,000 jobs and trimmed its flight schedule by 20 percent. 

But it restored about a third of its flights in December and plans to reinstate more flights starting February through April, officials said last week. 

The airline also said it plans to recall at least 75 of its 179 furloughed pilots by March. 

America West flights arrived 82.5 percent on-time, compared with 64.1 percent during the fourth quarter of 2000. 

“It’s clear that America West is operating a far different airline than it was 18 months ago,” Parker said. 

The comments failed to rally investors. Shares of America West fell 18 cents, or 4.5 percent, to $3.80 in morning trading on the New York Stock Exchange. 

According to the report, the company filled 68.5 percent of its planes for the fourth quarter. Capacity dropped 14.8 percent from the previous year due to cuts in scheduled flights after the attacks. 

Operating costs for the quarter fell 2.3 percent because of a 33 percent drop in average fuel price. 

For the year, America West reported losses of $147.9 million, or $4.39 per share. Revenue fell nearly 12 percent to $2.0 billion from $2.3 billion in 2000. 

Mike Boyd, an analyst with The Boyd Group in Evergreen, Colo., said he believed the government loan guarantee would give the airline enough cash to ride out current hard times. But he said consumer worries about airport security continue to plague America West and the industry. 

“I’m not worried about this airline going away. They’re doing all the right things,” Boyd said. 

“But it’s hard to do things right when you’re flying in an environment that’s scaring people away. The big question is, ’When will passengers come back?”’ 

America West is the only major U.S. airline to seek a loan guarantee under a federal plan approved after the attacks to provide airlines $5 billion in cash aid and $10 billion in loan guarantees. 

The airline serves 88 destinations in the United States, Canada and Mexico. 

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On the Net: 

http://www.americawest.com